BioLargo's Year-to-Date Revenues Up 80%
BioLargo (OTCQX:BLGO) reported strong financial results for Q3 2024, with year-to-date revenues reaching $14.1 million, an 80% increase compared to the same period in 2023. Third-quarter revenue grew 63% to $4.4 million. The company reduced its net loss to $1.1 million for Q3 and $2.6 million year-to-date, improving from $1.5 million and $3.6 million respectively in 2023. As of September 30, 2024, BioLargo held $3.9 million in cash and cash equivalents, with total stockholder's equity at $6.0 million. The company has achieved its tenth consecutive year of record-setting growth.
BioLargo (OTCQX:BLGO) ha riportato risultati finanziari solidi per il terzo trimestre del 2024, con ricavi da inizio anno che hanno raggiunto $14,1 milioni, un incremento dell'80% rispetto allo stesso periodo del 2023. I ricavi del terzo trimestre sono cresciuti del 63% a $4,4 milioni. L'azienda ha ridotto la sua perdita netta a $1,1 milioni per il terzo trimestre e $2,6 milioni da inizio anno, migliorando rispetto ai $1,5 milioni e $3,6 milioni rispettivamente nel 2023. Al 30 settembre 2024, BioLargo possedeva $3,9 milioni in contante e disponibilità liquide, con un patrimonio netto totale di $6,0 milioni. L'azienda ha raggiunto il suo decimo anno consecutivo di crescita record.
BioLargo (OTCQX:BLGO) reportó resultados financieros sólidos para el tercer trimestre de 2024, con ingresos acumulados que alcanzaron $14,1 millones, un aumento del 80% en comparación con el mismo período de 2023. Los ingresos del tercer trimestre crecieron un 63% a $4,4 millones. La compañía redujo su pérdida neta a $1,1 millones para el tercer trimestre y $2,6 millones en lo que va del año, mejorando con respecto a $1,5 millones y $3,6 millones respectivamente en 2023. A partir del 30 de septiembre de 2024, BioLargo tenía $3,9 millones en efectivo y equivalentes de efectivo, con un patrimonio total de los accionistas de $6,0 millones. La compañía ha logrado su décimo año consecutivo de crecimiento récord.
BioLargo (OTCQX:BLGO)는 2024년 3분기에 강력한 재무 결과를 보고했으며, 연간 수익이 $14.1 백만에 도달하여 2023년 같은 기간에 비해 80% 증가했습니다. 3분기 수익은 63% 증가하여 $4.4 백만에 달했습니다. 회사는 3분기에 순손실을 $1.1 백만으로 줄였으며, 연간으로는 $2.6 백만으로 개선하여 2023년의 $1.5 백만과 $3.6 백만에서 개선되었습니다. 2024년 9월 30일 기준으로 BioLargo는 $3.9 백만의 현금 및 현금성 자산을 보유하고 있으며, 총 주주 지분은 $6.0 백만입니다. 회사는 10년 연속 기록적인 성장을 달성했습니다.
BioLargo (OTCQX:BLGO) a rapporté de solides résultats financiers pour le troisième trimestre 2024, avec des revenus depuis le début de l'année atteignant $14,1 millions, soit une augmentation de 80 % par rapport à la même période en 2023. Les revenus du troisième trimestre ont augmenté de 63 % pour atteindre $4,4 millions. L'entreprise a réduit sa perte nette à $1,1 million pour le troisième trimestre et à $2,6 millions depuis le début de l'année, s'améliorant par rapport aux $1,5 million et $3,6 millions respectivement en 2023. Au 30 septembre 2024, BioLargo disposait de $3,9 millions en espèces et équivalents de liquidités, avec un total des capitaux propres s'élevant à $6,0 millions. L'entreprise a réalisé sa dixième année consécutive de croissance record.
BioLargo (OTCQX:BLGO) hat für das dritte Quartal 2024 starke Finanzergebnisse berichtet, mit einem Umsatz von $14,1 Millionen seit Jahresbeginn, was einem Anstieg von 80 % im Vergleich zum gleichen Zeitraum im Jahr 2023 entspricht. Der Umsatz im dritten Quartal wuchs um 63 % auf $4,4 Millionen. Das Unternehmen verringerte seinen Nettoverlust auf $1,1 Millionen für das dritte Quartal und $2,6 Millionen seit Jahresbeginn, was im Vergleich zu $1,5 Millionen und $3,6 Millionen im Jahr 2023 eine Verbesserung darstellt. Zum 30. September 2024 hielt BioLargo $3,9 Millionen in Bargeld und liquiden Mitteln, während das gesamte Eigenkapital der Aktionäre $6,0 Millionen betrug. Das Unternehmen hat das zehnte Jahr in Folge Rekordwachstum erzielt.
- Revenue growth of 80% YTD to $14.1 million
- Q3 revenue increased 63% to $4.4 million
- Net loss reduced from $3.6M to $2.6M YTD
- Strong cash position of $3.9M
- Tenth consecutive year of record-setting growth
- Continued net loss of $2.6M YTD despite revenue growth
Annual revenue record secured, with one quarter remaining
WESTMINSTER, CA / ACCESSWIRE / November 15, 2024 / BioLargo, Inc. (OTCQX:BLGO), a company that creates and commercializes sustainable technologies to solve tough environmental and cleantech challenges, announced results of its third quarter of 2024:
Revenues (
$14.1 million ) through September 30, 2024, were80% greater than the same period in 2023.Revenue in the third quarter of 2024 increased
63% ($4.4 million ) as compared to the third quarter of 2023.Net loss was
$1.1 million for the third quarter, and$2.6 million through September 30, 2024, compared to$1.5 million and$3.6 million for the same periods in 2023.The company had current assets of
$7,394,000 at September 30, 2024, of which$3,882,000 was cash and cash equivalents.Total stockholder's equity was
$6.0 million as of September 30, 2024.
The full details of the company's financials and business information for the three months and nine months ended September 30, 2024, were filed with the SEC on Form 10-Q, available at www.biolargo.com/sec-filings.
Dennis P. Calvert, President and CEO of BioLargo, commented, "With one quarter still remaining we've already secured a revenue record for 2024, making it our tenth consecutive year of record-setting growth. At the same time, we believe this growth is a mere fraction of our true potential. Each of our subsidiaries has huge potential to disrupt their respective markets and improve lives around the world. Based on our track record of growth and adoption in new business segments underway, we believe 2025 could shape up to be another record year."
He continued, "This year we made substantial investments in equipment and infrastructure in preparation for the anticipated national rollout of our subsidiary Clyra Medical Technologies' products. Like all the technologies we develop at BioLargo, Clyra's products have features and benefits that are simply unmatched in the marketplace, which is why we are so excited to see these products adopted in the marketplace where they can make an impact for the greater good."
About BioLargo, Inc.
BioLargo, Inc. (OTCQX:BLGO) is a cleantech and life sciences innovator and engineering services solution provider. Our core products address PFAS contamination, achieve advanced water and wastewater treatment, control odor and VOCs, improve air quality, enable energy-efficiency and safe on-site energy storage, and control infections and infectious disease. Our approach is to invent or acquire novel technologies, develop them into product offerings, and extend their commercial reach through licensing and channel partnerships to maximize their impact. See our website at www.BioLargo.com.
Safe Harbor Act
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about BioLargo's (the "Company") expectations regarding anticipated revenue; and plans for future operations. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: the effect of regional economic conditions on the Company's business, including effects on purchasing decisions by consumers and businesses; the ability of the Company to compete in markets that are highly competitive and subject to rapid technological change; the ability of the Company to manage frequent introductions and transitions of products and services, including delivering to the marketplace, and stimulating customer demand for, new products, services, and technological innovations on a timely basis; the dependency of the Company on the performance of distributors of the Company's products. More information on these risks and other potential factors that could affect the Company's business and financial results is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Contact Information
Dennis Calvert
President and CEO
dennis.calvert@biolargo.com
(888) 400-2863
SOURCE: BioLargo, Inc.
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